Ameren Missouri to decrease electric rates by $32M

With approval from the Missouri Public Service Commission (PSC), Ameren Missouri is set to drop its electric rates by $32 million — a decrease of approximately $15 per year for the average residential customer.

It is the second consecutive decrease for the company, which previously cut rates by 6 percent in 2018, as part of its Smart Energy Plan. The company notes the ongoing savings as part of its largest infrastructure upgrade plan in 100 years of operation. Rates this time around will drop for all customers: residential, commercial, and industrial, beginning in April. New energy management options will be offered for more personal consumer tailoring and an online rate comparison tool will be developed for use.

“We recognize the importance of keeping customer rates affordable as we implement our Smart Energy Plan to upgrade infrastructure, improve reliability and add clean energy,” Marty Lyons, president of Ameren Missouri, said. “We’re building a brighter energy future for the communities we serve with new solar and wind generation, economic development rate incentives for new or expanding businesses, and innovative new services for millions of customers.”

Part of the agreement calls for Ameren Missouri to donate $7.5 million to energy assistance and weatherization programs for low-income customers beginning next month. Going forward, Ameren also plans to invest $7.6 billion into a variety of electric projects over the next five years to redesign and revitalize its grid.